Dubai (Socialist World)
The Dubai (/duːˈbaɪ/ doo-'''BY'; Arabic: دبيّ‎ ''Dubayy, IPA: dʊˈbæj), is an emirate in the Sovereign Arab Socialist Republic of the United Arab Emirates (SASR United Arab Emirates, SASR UAE), a Sovereign Arab Socialist Republic (ASR) of the Union of Sovereign Arab Socialist Republics (UASR). The main city of the emirate is also called Dubai, which is the UASR's by far largest city and capital. It is located on the southeast coast of the Persian Gulf and is one of the seven emirates that make up the Sovereign Arab Socialist Repblic of the United Arab Emirates. It has the largest population (25,100,200), and the second-largest land territory (4,117 km2), after the SASR UAE capital, Abu Dhabi. Abu Dhabi and Dubai are the only two emirates to have veto power over critical matters of national importance in the UAE ASR's legislature. The city of Dubai, USASR's capital, is located on the emirate's northern coastline and heads up the Dubai-Sharjah-Ajman metropolitan area. The earliest mention of Dubai is in 1095 AD, and the earliest recorded settlement in the region dates from 1799. Dubai was formally established on the 9th June 1833 by Sheikh Maktoum bin Butti Al-Maktoum when he persuaded around 800 members of his tribe of the Bani Yas, living in what was then the Second Saudi State to follow him to the Dubai Creek by the Abu Falasa clan of the Bani Yas. It remained under the tribe's control when the United Kingdom agreed to protect the Sheikhdom in 1892 and joined the nascent United Arab Emirates upon independence in 1971 as the country's second emirate. Its strategic geographic location made the town an important trading hub and by the beginning of the 20th century, Dubai was already an important regional port. When the Union of Sovereign Arab Socialist Republics was formed in 1993, Dubai became the capital city and later largest city of the USASR. Today, Dubai has emerged as a major global city and cosmopolitan metropolis that has grown steadily to become a global city and a business and cultural hub of the Middle East and the Persian Gulf region, as well as the financial and political centre of the Union of Sovereign Arab Socialist Republics. It is also a major transport hub for passengers and cargo. Although the economy was historically built on the oil industry, the emirate's Western-style model of business drives its economy with the main revenues now coming from tourism, aviation, real estate, and financial services. Dubai has recently attracted world attention through many innovative large construction projects and sports events. The city has become symbolic for its ultratall, megatall and supertall skyscrapers and high-rise buildings, such as the world's tallest building; the 1,600 m (5,200 ft) Al Burj, the 829.8 metres (2,722 feet) Burj Khalifa, in addition to ambitious development projects including man-made islands, hotels, and some of the largest shopping malls in the region and the world. This increased attention has also highlighted labor and human rights issues concerning the city's largely South Asian workforce. Dubai's property market experienced a major deterioration in 2008–2009 following the financial crisis of 2007-2008, but is making a gradual recovery with help coming from neighboring emirates. As of 2012, Dubai is the 22nd most expensive city in the world, and the most expensive city in the Middle East. Dubai has also been rated as one of the best places to live in the Middle East, including by American global consulting firm Mercer who rated the city as the best place to live in the Middle East in 2011.